Rumors that Shire is preparing a 10-figure bid for NPS Pharma may have been overblown, but analysts say the Irish drugmaker should take a hard look at M&A if it wants to avoid becoming a target in its own right.
The story about Shire making a $4 billion advance on NPS Pharmaceuticals? Never happened, according to the latter company, which broke long-standing industry tradition by publicly commenting on a market rumor.
A questionable Friday rumor has evolved into a market-moving clamor, as London's Times reports that Shire has locked down a $5 billion credit facility and intends to make a bid for specialty drugmaker NPS Pharma.
Citing "usually well-informed sources," the Financial Times reports that Shire is considering a $4 billion bid for rare disease specialist NPS Pharma, a deal that would bolster the company's last blockbuster acquisition and perhaps get it out of rivals' crosshairs.
Big Pharma has been whacking a lot of jobs in the last couple of years, part of its periodic boom-and-bust cycle of hiring when times are good and firing when they are not. But some small drug companies have been trying a different model: Just don't add employees in the first place.
Eli Lilly has found a new path into the hot rare-disease field. An NIH program has backed the Indianapolis-based drug giant's preclinical-stage research of a potential treatment for a hormone deficiency often caused by a genetic defect.
NPS Pharmaceuticals ($NPSP) racked up the first quarterly score on its $295,000-a-year treatment for short bowel syndrome, claiming early traction for Gattex. To be sure, the numbers are small: 42 patients and 160 prescriptions in Q1.
NPS Pharmaceuticals has locked up the global rights to Gattex. The biotech bought back the ex-U.S. rights to its newly approved orphan drug (teduglutide) alongside another drug program close to a U.S. filing for rare cases of hypoparathyroidism, handing over $50 million in stock--a 7% equity stake in the company--with another $30 million on the table if the company hits a key sales milestone.
Our readers who regularly check our website know that we kept up with the news online. But for everyone else, here's a roundup of the regulatory actions you may have missed.
The FDA has stamped an approval on NPS Pharmaceuticals' Gattex for treating patients with short bowel syndrome. The approval sets the stage for the U.S. launch of the company's lead drug and adds to U.S. regulators' impressive tally of more than 30 new drug nods in 2012.